Published on 8/31/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.88 million trigger autocallable notes on S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 31 – UBS AG, London Branch priced $6.88 million of 0% trigger autocallable notes due Aug. 28, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10.4% annualized call premium if the index closes at or above its initial level on any quarterly valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying index: | S&P 500 index
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Amount: | $6,880,750
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Maturity: | Aug. 28, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par unless the index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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Call: | At par plus a 10.4% annualized call premium if the index closes at or above initial level on any quarterly valuation date after one year
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Initial level: | 4,405.71
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Downside threshold: | 3,304.28; 75% of initial levels
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Pricing date: | Aug. 25
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Settlement date: | Aug. 30
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90289Y546
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